By Ahmed Rahma
A leading consumer goods company in Nigeria, Procter & Gamble (P&G), has collaborated with Colori to invest $35 million in the production of oral care products, including the popular OralB, in the country.
On Friday, March 5, 2021, both parties sealed a deal at a ceremony witnessed by the Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele.
Speaking on the partnership, P&G Managing Director for Nigeria, Mr Adil Farhat, revealed that as a company focused on being a ‘force for good and a force for growth’, P&G will continue to partner with the Nigerian government as “we increase our economic and social footprint, in support of the diversification and localisation objectives of Nigeria.”
He expressed his excitement with collaboration with “Colori on this project and is committed to investing in Nigeria and Nigerian talents now and for the long haul.”
“On behalf of the entire staff of P&G, I would like to say a big thank you to the Governor for hosting us today as we seal this agreement,” he added.
Also speaking at the event, the Managing Director of Colori Cosmetics Mr Nigeria, David Feng said Colori Cosmetics (Longrich) was delighted with the opportunity to sign the contract with the Nigeria-Lekki FTA in 2017 to build its first Artificial intelligence plant in Nigeria under the China One Belt and Road Initiative.
“The cooperation with Procter and Gamble (P&G) particularly is a huge honour.
“We see it as a priceless opportunity to grow with Nigeria as we aim to be one of the top-class intelligent plants in Nigeria and in the whole of the African market at large.
“We aim to work with hundreds of local businesses to provide a healthier lifestyle to the people,” he said.
In his remarks, Mr Emefiele said, ‘It is gratifying to have been part of this localisation journey with P&G.
“They have also indicated to me that this is the first of many such projects and we are ready to support them achieve these localisation objectives.”
The apex bank’s Governor concluded by encouraging other multinationals to follow suit and collaborate with partners to strengthen industrialisation in Nigeria.
